AMAZON has announced it will suspend thousands of accounts for price gouging during the coronavirus crisis.

In an announcement on Monday, the company said that they would suspend 3,900 selling accounts in the US for violating the company's fair pricing policies.

Amazon has already removed over half a million offers from its online stores as coronavirus chaos has seen sellers charge extortionate prices for basic supplies.

Panic-buying has helped cause a shortage of hand sanitizer, toilet paper, bleach wipes and meat among other essential supplies.

A quick search on Amazon reveals shocking results, such as hand wash bottles selling for $43, a bottle of V8 Splash Mango Juice going for $81 and a 12-pack of soap that costs $264.

A box of eight face masks could set you back nearly $200, nearly ten times the normal price, and a small bottle of hand sanitizer could leave you $37 poorer.

Commenters on the website have been quick to condemn the outrageous prices, with one writing "shame on Amazon" in a review of the $38 hand sanitizer product.

And some sellers have been importing products from China which taking weeks to arrive.

This includes toilet roll for $18 and a box of face masks for $35, which contains no details about the product's origins.

FURIOUS CUSTOMERS

Underneath the $18 toilet roll post, one furious commenter wrote: "They do NOT tell you that this is a product from China !! I also would NOT have ordered it had this information been easy to find also. SNEAKY. I will refuse the delivery when it arrives."

According to a report by the U.S. Public Interest Research Group released March 11, almost 1 in 6 of the products sold directly by Amazon had prices 50% higher than the 90-day average.

Stockpiling due to the epidemic forced President Donald Trump to sign an executive order on Monday to prevent hoarding and increasing the price of essential goods.

In a statement, Amazon said it has "zero tolerance" for price gouging.

It read: "We began taking these enforcement actions promptly upon discovering this kind of misconduct, and we’ve been partnering directly with law enforcement agencies to combat price gougers and hold them accountable.

"We are constantly monitoring our stores for unfair prices and listings that make false claims in regards to COVID-19.

"Amazon has systems in place that locate and remove unfairly priced items for its site and the company is working with federal, state and local law enforcement agencies and policymakers to hold price gougers accountable for their actions."

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